BEIJING, July 2 (Xinhua) -- China saw a deficit of 16.8 billion yuan in international goods and services trade in May, showed data from State Administration of Foreign Exchange (SAFE) on Friday.
In May, China’s international goods and services trade income amounted to 1.4248 trillion yuan and the expenditures of the kind were 1.4416 trillion yuan.
Compared to the same period of last year, the declines in the trade surplus in May were mainly due to the fact that China’s import growth rate was higher than the export growth rate, and import demand increased significantly, said Zhao Qingming, chief economist with China Financial Futures Exchange, adding that as China's service trade remains a long-term deficit, the general needs of residents such as traveling abroad and studying abroad are important outputs of China's international service trade, with strong seasonal factors.
(Edited by Yang Yifan, yangyifan@xinhua.org)
A single purchase
